Sprott launches ex-China rare earth ETF
Sprott Inc. (NYSE, TSX: SII) announced on Wednesday the launch of the world’s only ETF that provides exposure to rare earths companies outside of China.
The Sprott Rare Earths Ex-China ETF (Nasdaq: REXC) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Nasdaq Sprott Rare Earths Ex-China (NSREXC), the company said in a press release.
The NSREXC is designed to track the performance of global companies engaged in the mining, separation, refining and production of rare earth elements, while excluding companies domiciled in or primarily operating in China.
The REXC would invest at least 80% of its total assets in securities included in this index, Sprott said.
“Rare earths sit at the intersection of national security, energy security and technological leadership,” said Steve Schoffstall, managing partner, head of ETFs at Sprott.
“As governments in developed countries accelerate efforts to secure non-China supply chains, we believe companies operating outside China across the rare earths value chain are strategically positioned. REXC offers investors a targeted way to access that opportunity through a pure-play ETF.”
REXC joins the Sprott’s growing suite of ETFs that provide pure-play exposure to critical minerals, including uranium, copper, lithium and nickel miners.
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